GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

GST Rate Cut Makes a Good Case for Frequent Elections, Says Chidambaram

When the GST council reduced the number of items attracting the top 28 per cent tax rate to just 50 from 228 in November2017, Chidambaram had said the decision had been taken to further the chances of the BJP in Gujarat where the election was due then.

PTI

Updated:July 22, 2018, 1:37 PM IST
facebookTwittergoogleskypewhatsapp
GST Rate Cut Makes a Good Case for Frequent Elections, Says Chidambaram
File photo of senior Congress leader and former Finance Minister P Chidambaram. (PTI)
Loading...
New Delhi: Congress leader P Chidambaram on Sunday took a dig at the government for reducing GST rates on nearly 100 items ahead of assembly elections in four states, saying holding frequent polls is good for the people.

In a series of tweets, Chidambaram said the present Goods and Services Tax regime is still "unreformed" and the government must notify three rates immediately and signal its intention to move to a single rate in the medium term, which will be the true GST.

"When elections are around the corner, government cuts rates. I suppose that makes a good case for frequent elections in different states!," he said.

"The GST Council cuts rates on 100 items, approves quarterly returns. Belated wisdom. Why did Government not follow our advice in July 2017?

"There are many other lacunae in the GST law. I doubt if the government has the will or the skill to remove these lacunae," he said.

The GST Council in its 28th meeting on Saturday approved rate reductions for 88 consumer-centric items such as cosmetics, refrigerators, washing machines, and small screen televisions, and cleared the widely demanded exemption on sanitary napkins.

Assembly elections are due in Rajasthan, Madhya Pradesh, Chhattisgarh and Mizoram later this year.

When the GST council reduced the number of items attracting the top 28 per cent tax rate to just 50 from 228 in November last year, Chidambaram had said the decision had been taken to further the chances of the BJP in Gujarat where the election was due then.

"Thank you Gujarat. Your elections did what Parliament and common sense could not do," he had tweeted then.

Also Watch

| Edited by: Ahona Sengupta
Read full article
Loading...
Most Active
Company Price Change %Gain
Axis Bank 635.75 +11.35 +1.82
Reliance 1,247.20 +12.30 +1.00
Tata Steel 582.15 -17.25 -2.88
Infosys 1,383.95 -0.30 -0.02
Tech Mahindra 709.40 +21.45 +3.12
Company Price Change %Gain
Ramco Cements 678.55 -2.30 -0.34
Reliance 1,246.50 +11.60 +0.94
Westlife Dev 398.95 +6.50 +1.66
Tech Mahindra 708.25 +22.35 +3.26
Tata Steel 582.25 -17.15 -2.86
Top Gainers
Company Price Change %Gain
UPL 646.20 +27.30 +4.41
Tech Mahindra 709.40 +21.45 +3.12
Coal India 291.40 +7.35 +2.59
Grasim 1,065.40 +25.55 +2.46
Lupin 888.60 +19.35 +2.23
Company Price Change %Gain
Coal India 291.55 +7.35 +2.59
Axis Bank 636.20 +12.00 +1.92
NTPC 161.20 +2.70 +1.70
Sun Pharma 635.25 +10.55 +1.69
Wipro 288.50 +4.20 +1.48
Top Losers
Company Price Change %Gain
Tata Steel 582.15 -17.25 -2.88
BPCL 368.75 -7.20 -1.92
HUL 1,752.50 -24.50 -1.38
Vedanta 218.85 -3.00 -1.35
M&M 957.80 -11.75 -1.21
Company Price Change %Gain
Tata Steel 582.25 -17.15 -2.86
HUL 1,752.40 -23.00 -1.30
Vedanta 219.20 -2.60 -1.17
M&M 957.55 -10.85 -1.12
Yes Bank 391.00 -2.85 -0.72
Loading...
Loading...